It appears that staffers at ABC News aren’t happy about the possibility of the network selling.
At least a half dozen people inside ABC News told CNN that they have a feeling of “dread and trepidation.”
Disney has been losing billions of dollars as CEO Bob Iger signaled that Disney was open to selling some of its television assets. This includes ABC television network as well as cable networks FX and National Geographic.
Byron Allen aims to acquire Disney’s ABC TV network, including, FX, & National Geographic, for $10 billion. This offer may adjust based on last year’s earnings, w/ the final bid being 8x the EBITDA. Allen seeks funding & may sell non-ABC local TV stations to avoid conflicts pic.twitter.com/eN9LRBIF5z
— Earn Your Leisure (@EarnYourLeisure) September 15, 2023
“Everyone is freaking the f— out,” one ABC News staffer told CNN.
“It’s all anyone at work is talking about,” added another.
Disney has reportedly lost more than $11 billion since it debuted Disney+ in 2019. Many consumers are beginning to use streaming networks instead of traditional television and cable.
Media mogul Byron Allen is offering to purchase ABC television network for $10 billion from the Walt Disney Company.
Allen began his career as a stand-up comedian in the 1990s before later founding CF Entertainment, which was later renamed Entertainment Studios. The company eventually generated over $1 billion in earnings.
Media mogul Byron Allen offers Disney $10 billion for ABC, cable TV channels https://t.co/0D3joPwUuD pic.twitter.com/POs4aknLkO
— CBSColorado (@CBSNewsColorado) September 15, 2023
Disney also has been in talks with other potential buyers, including local broadcaster Nexstar.
The company reported $512 million in losses in the last quarter of 2023 alone.
Disney is facing significant financial pressures as the company continues to lose money.
